Though business owners are more optimistic about the direction of the economy since the tax law was passed, it's doubtful their borrowing will increase meaningfully until they see more signs of more robust growth, bankers say.
The bank's effective tax rate will drop this year to 19% from 32%. That means that if JPMorgan generates the same pretax profit this year as it did in 2017, earnings will rise by more than $3.5 billion.
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